Interest on late payment of Service tax is payable on day basis or month basis
For e.g
Due date 05.04.12
Paid on 10.04.12
Interest will be paid for 1 month @ 1.5% or for 5 days @ 18% ????????
Menu
Interest on late payment of service tax
Replies (3)
Dear Mr Niraj
In Both Cases Interest will be Same 18% Yearly
Then 18/12= 1.5% Monthly
Example---- in Case of 18% (Yearly Basis) = Service tax Amount X 18/100 X 5/365.
In Case of 1.5% (Monthly Basis) = Service tax amount X 1.5/100 X 5/30
Thanx....Sonu Kumar
Dear Mr Niraj
In Both Cases Interest will be Same.
18% Yearly
Then 18/12= 1.5% Monthly
Example---- in Case of 18% (Yearly Basis) = Service tax Amount X 18/100 X 5/365.
In Case of 1.5% (Monthly Basis) = Service tax amount X 1.5/100 X 5/30
Thanx....Sonu Kumar
Dear Mr Niraj
In Both Cases Interest will be Same.
18% Yearly
Then 18/12= 1.5% Monthly
Example---- in Case of 18% (Yearly Basis) = Service tax Amount X 18/100 X 5/365.
In Case of 1.5% (Monthly Basis) = Service tax amount X 1.5/100 X 5/30
Thanx....Sonu Kumar
Recent Topics :
- Gifting money to my father-in-law (my husband's da
- GSTR-1 JSON from marketplace exports (Myntra / Ama
- Question on buy back of shares
- Saving corporate tax completely on profit from rea
- Hi experts need some helps
- A query regarding GST and Place of Supply:
- ADT-3 not filed by previous Auditor
- Revising salary on 24Q Q4 FY 25-26
- LTCG: Home Loan Principal Repayment?
- Ims action relationship query
Related Topics :
CAclubindia
